Elkem ASA – Exercise of share options under share incentive programme

Oslo, 9 September 2021

Option holders under Elkem ASA's ("Elkem" or the "Company", OSE ticker code: "ELK") share incentive programme have today exercised a total 736,820 options, of which 390,300 options have an exercise price of NOK 23.53 per share and 346,520 options have an exercise price of NOK 19.10 per share. The exercised options will be settled by delivery of Elkem’s shareholding of own shares. Following the transfer, the Company will hold 7,470,996 own shares.

The below primary insiders have exercised options under the Company's share incentive programme.

• Frédéric Jacquin (SVP Silicones), exercised 31,272 options, of which 15,636 options had an exercise price of NOK 23.53 per share and 15,636 options had an exercise price of NOK 19.10 per share, following which he holds 1,000,000 options and 6,551 shares in the Company
• Asbjørn Søvik (SVP Business Development), exercised 31,272 options with an exercise price of NOK 19.10 per share, following which he holds 1,000,000 options and 10,000 shares in the Company
• Katja Lehland (SVP HR), exercised 62,544 options, of which 31,272 options had an exercise price of NOK 23.53 per share and 31,272 options had an exercise price of NOK 19.10 per share, following which she holds 900,000 options and 0 shares in the Company
• Louis Vovelle (SVP Innovation and R&D), exercised 62,544 options, of which 31,272 options had an exercise price of NOK 23.53 per share and 31,272 options had an exercise price of NOK 19.10 per share, following which he holds 900,000 options and 6,896 shares in the Company
• Luiz Simao (SVP Carbon Solutions), exercised 34,400 options, of which 15,636 options had an exercise price of NOK 23.53 per share and 18,764 options had an exercise price of NOK 19.10 per share, following which he holds 730,000 options and 10,000 shares in the Company

The above primary insiders have transferred their rights to receive the new shares to a third party in return for a net sales proceed which will be finally determined on the basis of the market price subsequently obtained by the third party. The results of the sales process will be announced in a separate stock exchange notice.

All the exercised options have been granted in accordance with the Company's share option programme described in the Company's latest annual financial statement.

Further details of the primary insider transactions pursuant to the market abuse regulation article 19 are attached.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:
Odd-Geir Lyngstad
VP Finance and Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.no

About Elkem
Elkem is one of the world’s leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 6,800 people has a joint commitment to stakeholders: Delivering your potential. In 2020, Elkem was rated among the world’s top 5% on climate and achieved an operating income of NOK 24.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK). www.elkem.com